According to a local news report, Irongate Industrial Center LLC was the highest bidder in purchasing the land and building of the former International Metals Reclamation Company (INMETCO) with plans to operate the facility.
The report adds that during a June 26 auction, Irongate Industrial Center LLC was the highest bidder at $1.4 million for the industrial site and under the terms of the sale, Irongate agreed to purchase the property free-and-clear of all liens, interests and encumbrances, and will not be responsible for any liability or obligations from INMETCO during the bankruptcy case.
Earlier this year, the Ellwood City recycling plant filed a Chapter 7 bankruptcy in the Western District of Pennsylvania bankruptcy court.
In 2015, former parent company Horsehead announced INMETCO was expanding its facilities with a $10 million dollar project. Later in 2015, a fire broke out and raged at the Ellwood City facility. A year later, it filed for Chapter 11 bankruptcy protection in February 2016.
INMETCO, first established in 1979, turns zinc-containing dust and discarded batteries into value-added zinc and nickel-based products. According to its Indeed.com profiel, key raw materials for the company include dust from the electric-arc furnaces (EAF) used at steel minimills and residue from the galvanizing of metals. Besides zinc metal (used in galvanizing and alloying), Horsehead’s products include zinc oxide (used in the agricultural, chemical, and pharmaceutical industries), zinc dust (used in corrosion-resistant coatings), and nickel-based metals (used as a feedstock to produce stainless and specialty steels).
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